SIIC Environment Holdings Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	610.44	605.14	604.02	780.2	706.16
Depreciation & Amortization	918.68	605.11	445.16	394.04	341.31
Other Amortization	-	4.54	4.22	3.87	2.21
Loss (Gain) on Sale of Assets	-49.53	0.35	0.02	-2.68	-23.33
Loss (Gain) on Sale of Investments	-11.92	-0.48	-0.16	-0.93	0.37
Loss (Gain) on Equity Investments	-11.76	-11.93	-14.68	-37.76	-31.23
Change in Accounts Receivable	-655.78	-1,638	-337.38	-3,496	-2,275
Change in Inventory	-30.73	4.92	-16.64	52.49	-64.58
Change in Accounts Payable	-197.6	-192.13	-226.94	-310.03	468.71
Change in Other Net Operating Assets	-9.7	-50.76	6.61	-53.1	-15.67
Other Operating Activities	940.25	1,176	1,426	1,244	1,199
Operating Cash Flow	1,663	565.09	1,901	-1,395	315.62
Operating Cash Flow Growth	194.23%	-70.28%	-	-	106.43%
Capital Expenditures	-456.59	-141.33	-110.32	-154.44	-204.18
Sale of Property, Plant & Equipment	18.08	1.11	0.16	0.12	6.95
Cash Acquisitions	-	-	-	-279.64	-51.8
Divestitures	1.77	-	-	124.52	30.99
Sale (Purchase) of Intangibles	-139.19	-1,622	-1,357	-299.28	-667.06
Investment in Securities	119.66	-	-	-78.48	-
Other Investing Activities	780	54.55	33.58	29.09	18.04
Investing Cash Flow	323.72	-1,707	-1,434	-658.12	-867.08
Long-Term Debt Issued	8,824	13,406	4,724	5,980	6,712
Long-Term Debt Repaid	-9,511	-11,223	-3,805	-3,452	-5,248
Net Debt Issued (Repaid)	-686.7	2,183	918.59	2,529	1,464
Repurchase of Common Stock	-	-	-	-	-27.25
Common Dividends Paid	-157.48	-82.43	-202.7	-192.12	-186.04
Other Financing Activities	-608.91	-926.33	-805.35	-572.35	-571.69
Financing Cash Flow	-1,453	1,174	-89.46	1,764	678.55
Foreign Exchange Rate Adjustments	-3.41	0.13	-4.59	6.15	-0.66
Net Cash Flow	529.87	32.46	373.16	-282.33	126.43
Free Cash Flow	1,206	423.76	1,791	-1,549	111.43
Free Cash Flow Growth	184.61%	-76.34%	-	-	28.89%
Free Cash Flow Margin	17.05%	5.58%	23.65%	-18.66%	1.53%
Free Cash Flow Per Share	0.47	0.17	0.69	-0.60	0.04
Cash Interest Paid	622.46	837.38	769.76	793.49	648.14
Cash Income Tax Paid	264.31	249.28	207.42	177.84	193.8
Levered Free Cash Flow	100.81	-2,480	-431.72	-665.78	-160.24
Unlevered Free Cash Flow	520.22	-1,994	89	-219.58	263.07
Change in Working Capital	-893.82	-1,876	-574.36	-3,807	-1,886

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.